Wall Street Zen Upgrades Weyco Group (NASDAQ:WEYS) to Strong-Buy

Key Points

• Wall Street Zen upgraded Weyco Group to “strong-buy” from “buy,” although Weiss Ratings maintained a “hold (C+)” view and the overall analyst consensus remains “Hold.”
• Weyco reported quarterly EPS of $1.39 on revenue of $62.22 million, while shares opened at $45.26 and remain near their 12-month high of $48.67.
• Insiders sold 8,737 shares worth approximately $374,746 over the past 90 days, while institutional ownership stands at 23.59% after several large investors—including BlackRock—acquired stakes.

Weyco Group (NASDAQ:WEYS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Weyco Group in a research note on Friday, August 7th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".

Weyco Group Trading Down 1.2%

Shares of WEYS stock opened at $45.26 on Friday. The company has a market cap of $431.33 million, a P/E ratio of 12.47 and a beta of 0.88. The firm has a fifty day moving average price of $39.41 and a 200 day moving average price of $35.32. Weyco Group has a 12 month low of $27.25 and a 12 month high of $48.67.

Weyco Group (NASDAQ:WEYS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The textile maker reported $1.39 earnings per share (EPS) for the quarter. The company had revenue of $62.22 million during the quarter. Weyco Group had a return on equity of 14.04% and a net margin of 12.39%.

Insider Buying and Selling

In related news, insider Damian Walton sold 1,100 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $43.00, for a total value of $47,300.00. Following the transaction, the insider owned 6,580 shares in the company, valued at $282,940. The trade was a 14.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Judy Anderson sold 2,602 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $43.27, for a total value of $112,588.54. Following the sale, the chief financial officer directly owned 14,418 shares of the company's stock, valued at approximately $623,866.86. This represents a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 8,737 shares of company stock worth $374,746. Insiders own 36.40% of the company's stock.

Institutional Investors Weigh In On Weyco Group

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Weyco Group during the second quarter worth $18,215,000. Bank of New York Mellon Corp acquired a new position in Weyco Group in the 2nd quarter valued at $2,952,000. Citadel Advisors LLC acquired a new position in Weyco Group in the 3rd quarter valued at $380,000. Arrowstreet Capital Limited Partnership purchased a new position in Weyco Group during the 2nd quarter worth $204,000. Finally, Deutsche Bank AG purchased a new position in Weyco Group during the 2nd quarter worth $235,000. Hedge funds and other institutional investors own 23.59% of the company's stock.

About Weyco Group

Weyco Group, Inc is a publicly traded footwear company NASDAQ: WEYS based in Glendale, Wisconsin, that designs, sources, markets and distributes branded footwear products. The company operates through a portfolio of five consumer brands—Florsheim, Stacy Adams, Nunn Bush, BOGS and Rafters—offering a full range of dress, casual and performance footwear for men and women.

The Florsheim brand, with roots dating back to 1892, provides classic and contemporary men's dress shoe styles, while Stacy Adams and Nunn Bush deliver fashion-forward and casual offerings.

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